RATE Group | Bitcoin Won’t Drop Below $7k Again In Our Lifetime: Cane Island
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Bitcoin Won’t Drop Below $7k Again In Our Lifetime: Cane Island

22 Jan Bitcoin Won’t Drop Below $7k Again In Our Lifetime: Cane Island

Posted at 23:26h in Bitcoin News by

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Bitcoin ‘Never Look Back Price’ proponent, Timothy Peterson of Cane Island Alternative Advisors, has been talking to Bitcoinist about where he feels Bitcoin price is currently, and how far it will ‘never look back’ to.

Never Look Back Price

The ‘Never Look Back Price’ is essentially the last time that bitcoin was at a particular price level. After that point it only went up, and never again dropped below that price. The current NLB price will always be the current price, however if the price drops back down again, then that new lowest price will be retrospectively applied to what is now the current NLB price.

By definition the NLB price can only go in one direction, otherwise the price will have looked back, and all previous higher levels will be wiped.

Bitcoinist first reported on the NLB price back in October last year, and there is a fuller explanation in that article.

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